Fernando Fuster-Fabra's Blog

2012: ANNUS HORRIBILIS? | January 2, 2012

Even the best theory is worthless while it isn’t tested and works.

–       Fernando Fuster-Fabra


Versión española: http://wp.me/pRlnf-5y

The recently concluded year should be considered a horrible year for this world in convulsion. We have not cleared through crisis nor has peace been attained the various live fronts nor were the promises made by the North American president each day more absorbed with his re-election bid been kept. On top of all, the developed and supposedly civilized world has permitted the savage hunt of the terrorist, Osama Bin Laden and the brutal beating of Muammar el Gaddafi, the dictator.

Could there be a worst year than last year?

I’m afraid yes. In the offing for 2012 is not only an economically difficult year but also a politically turbulent one.

World leaders insist on thinking in the same mode as when they created this problem; precisely what Albert Einstein advised against when he was forced to abandon his native Germany just before the outbreak of World War II.

Barack Obama no longer thinks about the rest of the world but only on how to hold on tight to his power seat at the White House Oval Office.

Nicholas Sarkozy is in a similar frame of mind, with his own dilemma of holding on to power in neighbouring France; so he may grow up his little daughter in the Élysée.

Angela Merkel has more time left till 2013 to manoeuvre. That is what she is precisely doing, plotting in the name of 27 states subjected to her whims and obsessions on the European public deficit to save the Euro.

For David Cameron, his tantrum at the last European Council did him very little good. Whilst in disagreement with the Merkozy tandem, he is condemned to remain in the EU fold if he does not wish to sail alone in the recession waters that threaten us today.

What can I say about the Brussels bureaucrats? Neither Durao Barroso nor Van Rompuy has sufficient power to challenge the water-downed German version of the “Iron Lady” of the ‘80s. In all probability, other un-elected top notches like Mario Draghi at the ECB or Mario Monti from Italia end up with more power. With Papademos, they form the ‘Goldman Sachs triumvirate’ in the power seats in the EU.

In Spain, in spite of Mariano Rajoy’s victory by majority, it seems evident that he who governs is far away from La Moncloa, instructions being dictated on what to do at each instant.

It is worth observing how the majority of those in power have decided rather theoretical actions, assuming these will be the panacea that will cure all world evil. Meanwhile, practice in the past century has demonstrated that they are rowing counter-current, and I would add, in the wrong direction of an unequivocal solution to the problem.

Not only is the effect of a recession being felt and announced without any qualms to what the market reactions may be but likewise we are forewarned from these seats of globalised power that “either the austerity sacrifices are accepted or watch out for the consequences”.

All in all, it sounds grisly but above all the situation lacks a democratic imprint.

Not even events such as the Olympic Games 2012 in London can make us think than we are in any year other than an annus horribilis.    

Fernando Fuster-Fabra

Barcelona    


Leave a Comment »

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

    PRUEBA GRATIS: Google Apps for Work

%d bloggers like this: